I have never purchased any kind of CE or mutual fund because I do not want principle risk in terms of NAV/market PPS tank. I have just hand picked the notes I want and that is it that way I do not worry about interest rate inflections, whether my bonds are trading above or below par at any given point in time, etc.But I just ran a pretty thorough scan and this CE fund popped up as #1. My criteria was mainly long term history in multi-bond sector category. What do you guys think??15 Year performance = 13.12%10 Year performance = 13.22%5 Year performance = 11.19%3 Year performance = 14.07%1 Year perfomrnace = 11.28%Current Annual yield = 9.5%Investment Objective: The Fund seeks to maintain a high level of current income. As a secondary objective, the Fund seeks capital appreciation. Portfolio Composition*: Asset Allocation High Yield Corporate Bonds 48.8% Emerging Market Debt 43.1% Sovereign Debt External Currency 25.8% Sovereign Debt Local Currency 4.5% Corporates External Currency 12.8% Investment Grade Corporate Bonds 3.8% Cash & Other Securities 4.3% Credit Quality Allocation** AA 1.1% A 3.6% BBB 22.0% BB 32.0% B 26.1% CCC 8.6% CC 0.1% Not Rated 6.5% Top Ten High Yield Industries Consumer Cyclical 9.2% Energy 5.7% Communications 5.7% Basic Industry 5.0% Consumer Non Cyclical 5.0% Capital Goods 3.7% Transportation 3.2% Electric 3.0% Technology 2.2% Finance Companies 1.7% Top Ten Emerging Market Countries Brazil 7.8% Mexico 5.2% Turkey 4.6% Russia 4.3% Venezuela 4.1% Argentina 2.8% Indonesia 2.5% Colombia 2.2% Malaysia 1.4% Thailand 1.2% Currency Allocation US Dollar 95.2% Brazilian Reals 1.7% Indonesian Rupiahs 1.2% Egyptian Pounds 0.6% Malaysian Ringgits 0.3% Peruvian Nuevos Soles 0.2% Mexican Pesos 0.2% British Pound 0.2% Polish Zlotych 0.1% Turkish Lira 0.1% Euro 0.1% Average Life (years) 8.1 Effective Duration (years) 5.1 Average Coupon (%) 7.8 Portfolio Statistics: Inception Date October 29, 1993 Inception Price $15.00 Total Assets*** $242,551,425 Net Assets $184,240,952 Loans**** 13.61% Preferred Shares**** 0.00% Reverse Repos**** 10.44% Market Price $11.90 NAV $11.95 (Daily NAV is available on market quotation systems using the symbol XGDFX.) Distribution Rate $0.0950 per share Frequency Monthly (Declared quarterly, paid monthly)
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